Seoul to seek pre-emptive, market-centered corporate restructuring
SEOUL, Dec. 8 (Yonhap) -- South Korea will engage in constant, pre-emptive, market-centered corporate restructuring going forward, breaking away from government-spearheaded responses to developments that have been the norm in the past, the finance ministry sad Friday.
Under the plan, key economy-related agencies and private think tanks will regularly analyze major industrial sectors' business conditions, their competitiveness and risk factors, and based on the results, draw up a set of plans, including schemes to revamp businesses.
Also, creditor banks will play a key role in pushing for corporate restructuring with the credit rating assessment of their corporate customers, and a 1 trillion won fund will be established to facilitate corporate restructuring.
When a certain company exerts an impact on the economy any restructuring should be considered from both the industrial and financial sides, the finance ministry said.
sam@yna.co.kr
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